Are modular homes a good investment? What is faster,buying an existing house or buying land and a modular?

Answer 1

Buy an existing house modular homes loose value every year but an actual hose does not also i did this a few years ago and when i tried to sell it it sat for months on the market no one wants to buy a used modular home

Answer 2

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RE:
Are modular homes a good investment? What is faster,buying an existing house or buying land and a modular?

Answer 3

That will depend on what area you are in. In my area, modular homes appreciate at about the same rate as stick built homes. Modular homes vary widely in quality--some look like mobile homes, and some you would not believe are actually modular.
Time wise, it usually takes about 30 days to close on an existing house. With a new modular, there are many factors that will affect how long it will take. Will the sellers of the land allow you to start construction before closing? If not, you will have to close on the land first. Are utilities already at the property? If not it will take time to get them there. Once all that is in place, the foundation can usually be finished in 1-2 weeks. Then the sections of the modular are placed by crane. Depending on who the manufacturer is, the interior will need varying levels of finishing--usually flooring, light fixtures, drywall repair (where the sections are joined and cracks that will develop when transported).

Answer 4

There is sometimes confusion about the term "modular". HUD-code homes (essentially double-wide trailers) are built to a different building code than modular homes. Modulars are built to local building codes. They are "stick-built" in a factory.

If by "modular" you mean a double-wide HUD-code home where they tow the modules to the site, take off the wheels and leave the frame with the house - no they aren't a particularly good investment. Buying one is a lot like buying a car - they don't generally appreciate in value. And, they are taxed as personal property, not as real estate.

However, if by "modular" you mean a systems-built, stick-built house, then yes, in most areas they appreciate in the same fashion as a site-built home because they are the same, except that the systems-built home is built indoors at a factory, then set on your basement or crawl-space foundation with a crane. In all other ways can be as good and sometimes better construction than many site-built homes, if for no other reason than they may have been built using more wood so they can withstand being hauled down the highway and lifted with a crane.

Usually, it would be "faster" to buy an existing home than to build one if the existing home doesn't need a lot of work before you can move into it.

Answer 5

Modulars can be an excellent investment in the right application.

For example, I know investors that make 4 plexes out of modulars and sell them off individually or rent them out. It makes for affordable housing and the construction value these days is very good. I have friends in the modular business and have seen these things go up. Obviously, location is everything.

Answer 6

go for a regular home- modulars will finance at a higher interest rate. modulars or mobiles (anything manufactured) will depreciate the instant it's moved off the lot - anything with wheels under it - is like buying a car - not worth a hill of beans - go with a conventional stick built home - you'll be better off in the long run and modulars have crappy resale in case you ever decide to sell and move someday

Answer 7

Modular homes do not have a high value, the land they are on is worth more most of the time. I would recommend buying a home that needs some fixing up, thereby increasing its value. Renovating and updating the kitchen tends to increase value the most out of any project.